Price Negotiations

All buyers want to pay as little as possible for the home they purchase. Buyers in slower markets are definitely looking to score a bargain. My job is to combine services to my sellers that include marketing to improve the competitive position of their homes, and then to assist them in countering low offers and buyer resistance to fair pricing.
 
Part of this process begins with the CMAs I do and the price at which I suggest that you list your home. Starting at the right price for the market with a little room for negotiation combines market specifics with buyer human nature factors. I'm really good at this negotiation thing, as I do it every day. I'm on your side, and my job is to get a combination of the best price and contingencies resolutions for your home.
 
Many sellers are intimidated when there are distressed properties for sale in the area or foreclosures putting downward pressure on prices. However, generally there is a 20% to 30% difference in selling prices between those homes and seller-occupied homes in good condition. You see, those distressed properties are usually in poor-to-terrible condition. In many cases, they will not even qualify for a mortgage without extensive modifications and repairs, and that’s not going to be possible for most buyers.

So, the first thing to remember is that you’re selling a “ready to move in” property, and this commands a higher price. The more “ready to move in” it appears to the buyer on that first walk-through, the better the price you’re going to get. So, I’ll make some suggestions as to landscaping, curb appeal, outdoor and indoor improvements, and possibly even “staging.” Staging is the process of moving, adding to or taking away from furnishings in the home to make it seem more spacious and to allow potential buyers to view it as “their home” in the future.

Consider the possibility of post-inspection repair requirements by the buyer(s) as well. The time to think about this is from the first offer, as you don’t want to negotiate a purchase price that leaves you little or no room for possible repairs or condition corrections. This single item is the cause for the vast majority of deal failures after a successful initial price negotiation.

Some negotiations are short and sweet, while others can involve multiple counter offers with terms and conditions related not only to price, but also related to closing costs, items included in the sale, partial owner financing and more. My job is to work with my sellers to know their needs and to tailor the negotiation to those requirements to get the best deal for them.

There are many qualities you should look for in a real estate agent. One of the most important is their negotiation skill.

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It’s so important to find an excellent negotiator when choosing your real estate agent. For most people, their home is their absolute biggest investment. Choosing a Realtor® that gets you an extra 2% or 3% on the purchase of your home can net you an extra $5,000 to $20,000 on the sale or purchase of a home.

You want someone with skill and experience at negotiating. 

When you’re choosing an agent, you want someone who has experience in negotiating. I currently negotiate two to three deals per week myself. You also want someone with knowledge and experience, someone who really enjoys squeezing every single nickel they can out of a transaction.

If you have any questions for us or are interested in getting a great deal whether you’re buying or selling, give me a call or send me an email. I would love to hear from you.

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Contact Info
Agent
Realtor | Broker

Michael Jones

RE/MAX Of Greensboro

204 Muirs Chapel Rd
Greensboro  North Carolina 27410

(336) 750-6453 (800) 950-6453 (336) 346-1280

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